The Social Security Administration announced Thursday that benefits will increase 3.2% in 2024 for the country’s over 70 million recipients.
This will result in the average monthly check for a retired worker to rise to $1,907. That’s up $59 from $1,827 this year, according to Forbes.
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In his state of the state address last month, Gov. Tony Evers boasted about Wisconsin’s low unemployment rate. What the Democrat failed to mention is Wisconsin’s dismal labor participation rate, a number that underscores one of the biggest economic challenges facing Badger State businesses.
“Our labor force participation rate is worse today than it was at the bottom point of COVID when our economy was shut down,” said Scott Manley, Executive Vice President of Government Relations for Wisconsin Manufacturers & Commerce.
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The U.S. economy added 210,000 jobs in November, marking nearly the lowest number of jobs created in a month since President Joe Biden took office in January.
November’s jobs report was well below economists’ estimate of 573,000, according to CNBC. Additionally, unemployment fell to 4.2% from October’s 4.6% figure, according to the Bureau of Labor Statistics (BLS).
The U.S. economy, still recovering from the COVID-19 pandemic but now subject to uncertainty related to the Omicron coronavirus variant, appeared to slow in momentum in November, The Wall Street Journal reported.
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When it comes to blaming the masses, no one seems to take the fall more than young people: Weird food trends, the “baby bust,” and now, a labor shortage all seem to be attributed to Millennials and Gen Z. Now, following “The Great Resignation” comes a new phrase, “antiwork.” It’s a movement pointing out the flaws in work and employment. The subreddit grew from 76,000 to 1,019,000 subscribers from January 2020 to November 2021, according to Vice. And they planned a “Blackout Black Friday” strike. So, what’s this movement, and how far will it go?
What is antiwork?
This isn’t simply a lazy act of defiance. The antiwork movement has to do with burnout, mental health, wages, benefits, employer treatment, and many other factors. The pandemic saw many people working themselves to the bone but for low pay under toxic management. Then came The Great Resignation, where millions voluntarily left their jobs. Nearly 40% of those were service jobs— restaurant, hotel, bar, and health care workers, and others—also known as those who are famously underpaid. Now, employees from nearly every workforce sector in the U.S. are coming forward to expose poor treatment and overworking, among other issues.
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